Head-Up Display Market is Expected to push Sales at a 21.4% CAGR, with size Reaching US$ 22,600 Mn from 2022 to 2028

The overall head-up display (HUD) market size is projected to top US$ 7,053 Mn in 2022, as per another market assessment by Future Market Experiences (FMI). Growing revenue for free vehicles is supposed to push bargains at a 21.4% CAGR, with the market size showing up at US$ 22,600 Mn by 2028.

What's more, the mix of connective advancements like computerized reasoning (AI) and expanded reality in HUDs to work on the driving experience and street security will stay a central development driver. According to FMI, applications in the auto area are supposed to stay high, representing 22% of the all out head-up display market share in 2022.

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Extensive Demand from Automotive and Military and Defense Sectors to Present Lucrative Growth Prospects

The demand for advanced cars has increased substantially in developed as well as developing regions with the disposable income of consumers increasing along with the average household income. Consumers are moving forward with the trends and technologies taking shape in the automotive industry based on which it has been anticipated that the integration of augmented reality is going to be relatively high in the near future, thus pushing the sales of head-up displays. Not only is the automotive sector one of the lucrative end users, the military and civil and aviation sectors are also going to emerge as potential sectors for manufacturers to invest in the near future.

The average household income of consumers in the Asia Pacific region has been constantly increasing over the past couple of years and is expected to maintain the forward trend in the coming years as well. ASEAN countries and India are likely to exhibit a high a demand for advanced and new consumer electronics and cutting edge automotive products including head-up displays. With these factors in consideration, APAC is expected to rise at an outstanding

Companies to Gear up with Population Specific Strategies

The manufacturers and suppliers of head-up displays should focus the middle-class population as their target consumers, mostly developing countries. The introduction of economical and feasible products will help in the expanding their consumer base and also cater to the technological needs of the developing regions. The leading companies in the market are BAE Systems, Continental AG, Denso Corporation, Honeywell Aerospace, Panasonic Automotive Systems, and Robert Bosch, among several others.

Competition Landscape

Leading players operating in the global head-up display market are focusing on research and development to integrate connective technologies such as artificial intelligence (AI) and augmented reality (AR). Through this, players are aiming to diversify their product portfolios. In addition to this, players are investing in mergers, acquisitions, and collaborations to gain a competitive edge in the market. For instance:

In February 2021, Panasonic displayed a futuristic augmented reality (AR) head-up display (HUD) at the 2021 Consumer Electronics Show. The new HUD uses artificial intelligence to detect and highlight potential obstacles and hazards including pedestrians, cyclists, vehicles, and bridges.
In October 2019, Nippon opened a new development center in Tokyo, Japan, for its HUD business. The new R&D center will focus on tasks such as integrated cockpit development and next-generation HUD development for product enhancement.

How Will the Integration of Connective Technology Influence Head-Up Display Sales?

Augmented reality (AR) is a developing area of technology, which is attracting interest in its ability to overlay digital objects in the surroundings at the consumer's disposal. To improve the safety features and visibility in autonomous vehicles, manufacturers are getting inclined towards the integration of augmented reality (AR) and artificial intelligence (AI) in HUDs.

When combined with existing holographic HUDs, AR potentially enhances functionality by overlaying navigation indications and other obstacles with color-coded strips and other indicative features.

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Head-up Display Market: Segmentation

By Component

Projection Unit
Video Generator
Display Panel
Software
Others

By Technology

CRT
Micro Electro Mechanical Systems
(MEMS)
Liquid Crystal Display (LCD)
DLP
LCOS
Waveguide

By Application

Military and Defense
Civil and Aviation
Automotive
Others (Manufacturing,
Wearable etc.)

By Type

Windshield
Combiner
Head Mounted

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 6-years.

This release was published on openPR.